Leaders in Europe are highly motivated to reach some agreement this week, thanks to Standard & Poor’s announcement that it might downgrade the credit ratings of 15 eurozone nations. The European Financial Stability Facility also might face a downgrade of its respected credit rating if even one of the bailout fund’s six guarantors is downgraded from a rating of AAA. The six guarantors are Germany, France, the Netherlands, Finland, Austria and Luxembourg. All are highly ranked nations that are supporting the rescue fund for the eurozone. The global market is wary of any foreign investments at this time. German Finance Minister Wolfgang Schaeuble said, “The truth is that markets in the whole world right now don’t trust the euro area at all to do what we’ve promised, namely to take the necessary decisions step-by-step and to win back the confidence” of investors.

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